Robert Reich's War on Global Capital

Robert Reich, former Labor Secretary in the Clinton administration, has written yet another empty tract. He gripes that "global capital, in the form of multinational corporations as well as very wealthy individuals, is gaining enormous bargaining power over nation states." That "nation states"are floundering isn't because of the "evil" private sector. Reich's big beef is that corporations aren't paying enough taxes. The title of his May 26 article is: "Lessons from the World of Tax Avoidance: How Nations Can Negotiate with Global Capital." But tax avoidance is perfectly legal; both corporations and individuals have every right to vote with their feet and move themselves and their capital to wherever they're properly appreciated.If you don't want to pay state income taxes, fine, move to Texas. Nevertheless, Reich urges: One way for nations (as well as individual states or provinces) to regain some bargaining leverage over global capital would be to stop racing against one another and...(Read Full Article)

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